"Though many are not aware of it yet, New York is about to enterinto a space crises," Schumer stated. "Manhattan is getting filledup. The lack of new parcels and the island's density limit newconstruction as well. In the outer boroughs where there is thephysical space to accommodate growth, the lack of critical massowing to the dearth of large-scale private sector commercialdevelopment discourages new businesses from locating there. As aresult, large numbers of jobs are starting to leave New York forNew Jersey, Connecticut and beyond."

But Giuliani, repsonding to the warning, urges naysayers to "doa little addition," and find that New York far exceeds New Jerseyin the amount of real estate currently available and underconstruction. He says the maximum development New Jersey's shorecould sustain is approximately 25.5 million sf, which is the totalsquare footage of only three of New York's new projects. "At 42ndSt. there are five new buildings" at six million sf, "which morethan exceeds what New Jersey has available currently," he adds.Hecites statistics that New York's job growth is setting records,lists of new city development projects, and new private sectordevelopment such as the New York Stock Exchange building plannedfor 1.9 million sf.

The adequacy of space throughout the city is obvious, he says,from a "physical examination of the city--that means actuallydriving and walking the streets, not just sitting in an officebuilding and thinking about it."